Hong Kong's PMI for May is 54.9
- previous was 51.7
Impressive performance for a place so recently mired in COVID restrictions. The same should bo coming from China as soon as the June PMis.
Comments from the report:
- “The Hong Kong SAR private sector growth accelerated in May, benefitting from the easing of COVID-19 disruptions. Demand and output both expanded at strong rates, triggering the renewal of hiring and purchasing activity growth. Foreign demand likewise rose, though demand from Mainland China remained under pressure.
- Despite the unleashing of pent-up demand with the easing of virus restrictions, price and supply pressures showed no signs of worsening, which had been a positive sign. This continues to suggest that the Hong Kong SAR economy is recovering strongly into the second quarter.
- Overall sentiment in Hong Kong SAR remained positive with the latest developments boding well for further improvements in business conditions.”
